Skechers U.S.A., Inc. (NYSE:SKX) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. decreased its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 46.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,133 shares of the textile maker's stock after selling 89,230 shares during the quarter. Assenagon Asset Management S.A. owned about 0.07% of Skechers U.S.A. worth $6,969,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Sunbelt Securities Inc. acquired a new stake in Skechers U.S.A. during the 1st quarter valued at approximately $45,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Skechers U.S.A. by 19.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 34,391 shares of the textile maker's stock valued at $2,107,000 after buying an additional 5,716 shares during the period. State of Michigan Retirement System boosted its stake in shares of Skechers U.S.A. by 2.5% in the first quarter. State of Michigan Retirement System now owns 32,844 shares of the textile maker's stock worth $2,012,000 after buying an additional 800 shares during the last quarter. Redmont Wealth Advisors LLC acquired a new stake in Skechers U.S.A. during the first quarter worth about $25,000. Finally, Commonwealth Equity Services LLC lifted its holdings in Skechers U.S.A. by 3.7% in the first quarter. Commonwealth Equity Services LLC now owns 64,271 shares of the textile maker's stock valued at $3,937,000 after acquiring an additional 2,300 shares during the period. Institutional investors and hedge funds own 79.96% of the company's stock.

Skechers U.S.A. Stock Down 0.6 %

Skechers U.S.A. stock traded down $0.39 during mid-day trading on Tuesday, reaching $61.47. 2,198,371 shares of the company's stock were exchanged, compared to its average volume of 1,883,351. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01. Skechers U.S.A., Inc. has a twelve month low of $46.06 and a twelve month high of $75.09. The company has a market cap of $9.36 billion, a P/E ratio of 15.19, a P/E/G ratio of 0.83 and a beta of 1.22. The company has a fifty day moving average of $65.89 and a 200-day moving average of $66.26.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share for the quarter, beating analysts' consensus estimates of $1.15 by $0.11. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. The business had revenue of $2.35 billion during the quarter, compared to analysts' expectations of $2.31 billion. During the same quarter last year, the business posted $0.93 earnings per share. The business's revenue for the quarter was up 16.0% on a year-over-year basis. Sell-side analysts expect that Skechers U.S.A., Inc. will post 4.2 EPS for the current year.

Skechers U.S.A. declared that its Board of Directors has approved a share buyback plan on Thursday, July 25th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the textile maker to reacquire up to 10.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SKX. Evercore ISI lifted their price target on shares of Skechers U.S.A. from $68.00 to $72.00 and gave the company an "outperform" rating in a research note on Friday, July 26th. Wedbush raised their price target on shares of Skechers U.S.A. from $76.00 to $79.00 and gave the company an "outperform" rating in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft boosted their price objective on Skechers U.S.A. from $83.00 to $84.00 and gave the stock a "buy" rating in a research note on Friday. Morgan Stanley raised their target price on Skechers U.S.A. from $81.00 to $84.00 and gave the company an "overweight" rating in a research report on Friday. Finally, Bank of America reduced their price objective on Skechers U.S.A. from $81.00 to $80.00 and set a "buy" rating for the company in a research note on Friday. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat, Skechers U.S.A. currently has an average rating of "Buy" and an average price target of $78.09.

About Skechers U.S.A.

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children worldwide. The company operates through Wholesale and Direct-to-Consumer segments. It offers footwear under Skechers Hands Free Slip-ins, Skechers Arch Fit, and Skechers Air-Cooled Memory Foam brands.